Everybody seems to be talking about RWA, AI, or DePIN in crypto. However, there’s another sector with massive growth potential, that’s blockchain gaming. This is like a sleeping giant. According to a new DappRadar report, this crypto sector has 4.2 million DAU (Daily Active Users). That’s a new record.
So, let’s dive in and see what this DappRadar report on blockchain gaming entails.
An Overview of Blockchain Gaming
The blockchain gaming sector is doing well. DappRadar had an August industry report that showed some stunning results. For example, it shows that the blockchain sector has 17 million daily unique active wallets (dUAW). So many daily dApp interactions is quite an achievement. This is a record high and shows more adoption for dApps and chains.
Source: DappRadar report
Nonetheless, blockchain gaming finds itself back in second spot. That’s for a second consecutive month running. The new leading product category is ‘other’. This includes, among others, AI. This ‘other’ category now has a 29% market share. In contrast to blockchain gaming, which has 24% market share. This still puts it strongly in the second spot. As already mentioned, the blockchain gaming sector has 4.2 dUAWs. That’s a 5% growth compared to last month.
Seeing AI-related dApps rising should come as no surprise. AI is one of the leading crypto sectors. This sector will most likely only keep growing. DappRadar talks about “a shift in focus toward AI-driven innovation”.
Blockchains Leading this Sector
Ronin is still the dominant leader in this sector. It has the most UAWs. The opBNB chain takes second spot, not far behind Ronin. SKALE is the chain that showed the strongest growth last month. It’s starting to make a name for itself in blockchain gaming.
Near, Base, and TON are also doing well. Other chains that perform well are the Immutable zkEVM chain and WAX. Each chain has its own top-performing games that keep attracting users. So, despite AI taking the spotlight, blockchain gaming is still in the picture.
DappRadar report
Gaming Leaders in August
KGeN stood out in August as a leading dApp. It’s a gaming ecosystem that’s blockchain-powered. Among others, you can:
Earn rewards.
Build profiles.
Compete in quests and tournaments.
KGeN’s main focus is on decentralizing gamer data and achievements. This stimulates a strong gaming community.
Lumiterra is a new entry on the leaderboard. It’s a blockchain-based MMORPG (massively multiplayer online role-playing game). Not surprisingly, it launched on the Ronin network. Lumiterra offers survival-crafting mechanics. It combines this with a mixture of farming, combat, and exploration. The game also shows great future growth potential. During 7 days of beta testing, it had an 80% retention rate.
Most other leaderboard projects maintained their positions during August. However, when looking at the volume and number of traders, there’s one game that stands out. Gods Unchained still keeps pulling its weight. During August, it released two new time-limited game formats. It’s a dynamic format that keeps gameplay fresh. As a result, its trading volume remains consistent.
DappRadar report
Other key developments during August, include, among others,
Guild of Guardians had the highest number of active traders.
Dapper Labs had updates in Cryptokitties. That’s their legacy game. It also launched ‘All the Zen’. This is a mysterious mini-game on Telegram.
Proof of Play is working on Boss Chain. This is their second blockchain. It supports the scaling of its flagship game ‘Pirate Nation’. During June, it also launched its $PIRATE token.
During August, Gaming Studios Saw a $50 Million Investment
The $50 million investment into gaming studios during August is a 117% increase from July. All $50 million went straight to gaming studios. This should benefit infrastructure development. Although the gaming sector saw this money injection, for the rest it was rather quiet.
DappRadar report
It seems as if the previously lively blockchain gaming sector is taking a step back. There’s less buzz, with only a few major announcements. Currently, there are also fewer projects making headlines. Still, there were a handful of Web3 projects that visited the Gamescom. A great opportunity for them to showcase their games. For mainstream gaming, this is one of Europe’s largest conventions.
Still, the excitement for blockchain gaming seems to have a momentary pause. Still, two deals caught my attention last month.
Gameplay Galaxy is a US-based blockchain game developer. They managed to secure another $11 million seed round funding. That brings their total funding to $24 million. This is good news for ‘Trial Xtreme Freedom’, their mobile-based Web3 sports game.
Double Jump Tokyo, managed to raise a $10 million Series D round. This is a Japanese-based blockchain developer. They will use this fund to expand their Web3 catalog. They also work together with Sony on their new Soneium chain.
Conclusion
The blockchain sector sees great growth in daily active users. This also has a spin-off to the blockchain gaming sector. However, the blockchain gaming sector seems also to be looking for a new spark. It needs to ignite interest again in this promising crypto sector.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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This articles is written by : Fady Askharoun Samy Askharoun
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